Centre’s move to divest stake in LIC opposed

Centre’s move to divest stake in LIC opposed

The Hindu

South Central Zone Insurance Employees’ Federation (SCZIEF) president K. Venugopal Rao has expressed concern over the Central government’s resolve to withdraw its stake in the Life Insurance Corporation of India (LIC) and the proposal to increase foreign direct investment (FDI) in the sector by 74%. Addressing the media here on Friday, Mr. Venugopala Rao said the hiring of consultants to assist the Department of Investment and Public Asset Management in making the Initial Public Offer in LIC and the under-valuation of its actual value were highly objectionable.
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